Stock market slides on mounting fears over U.S. economic growth [Video]

Stock markets in the U.S. opened sharply lower on Thursday amid mounting investor concerns about slowing economic growth and uncertainty over the impact of new Trump administration tariffs on Canada, China and Mexico. 

The S&P 500 fell 104 points, or 1.8%, to close at 5,739, while the blue-chip Dow Jones Industrials Average slid 1% on the day and tech-heavy Nasdaq composite tumbled 2.6%.

Recent signals suggest the economy is weakening. Most worrying is a downturn in spending by American consumers, with federal data showing that retail sales across the U.S. dipped 0.9% in January. 

The job market is also cooling down, while layoffs in February soared to their highest level since July 2020, according to new numbers from outplacement firm Challenger, Gray & Christmas. 

At the same time, inflation accelerated in Januaryand remains stubbornly above the Federal Reserve’s 2% annualized target. Recent economic trends have sparked …